Factory Head-Accounts, CML Malur

Role & responsibilities

Key Responsibilities:

A. Financial Management & Reporting

• Oversee daily accounting functions and maintain accurate books of accounts at the factory level.
• Finalize monthly, quarterly, and annual financial statements and reconcile with corporate finance.
• Monitor factory cash flow, working capital, and fund utilization.
• Ensure accurate, timely, and detailed MIS reporting for decision-making.

B. Bank Payments & Treasury Management

• Manage all factory-level banking operations including vendor payments, salary disbursements, and statutory remittances.
• Monitor bank balances, reconcile statements, and ensure efficient cash flow management.
• Coordinate with corporate treasury for loan drawdowns, LC/BG issuance, and interest payments.
• Ensure timely clearance of vendor dues to maintain supplier relationships.

C. Imports & Foreign Transactions

• Handle documentation and accounting related to imported raw materials, machinery, or spare parts.
• Liaise with customs, CHA (Customs House Agent), and import logistics partners.
• Manage Letter of Credit (LC) documentation and foreign currency payments.
• Track import duties, GST on imports, and maintain proper compliance records.
• Work closely with procurement to ensure cost-efficient import processes.

D. Total Production Costing

• Maintain accurate costing for each stage of production:

• Raw material costing

• Work-in-progress (WIP) costing

• Finished goods costing

• Conduct variance analysis between standard vs. actual production costs.
• Identify areas of cost leakage and recommend process improvements.
• Prepare detailed production cost reports for management and corporate teams.

E. Fixed Assets Management

• Maintain accurate records of all factory fixed assets including machinery, equipment, and buildings.
• Ensure compliance with capitalization policies and depreciation accounting.
• Conduct periodic physical verification and reconciliation of fixed assets.
• Manage asset tagging, insurance, and disposal of obsolete assets.
• Support planning for capex (capital expenditure) and new machinery purchases.

F. Budgeting & Forecasting

• Prepare annual factory budgets for production, manpower, and overheads.
• Forecast raw material requirements and cost trends.
• Monitor monthly budget vs. actual performance and report variances.
• Support management in cost control initiatives and efficiency improvement projects.

G. Statutory Compliance

• Ensure timely filing of GST, TDS, PF, ESI, and other statutory returns.
• Coordinate with statutory, internal, and cost auditors for seamless audit completion.
• Stay updated on changes in tax laws, labor laws, and factory compliance requirements.
• Ensure zero penalties and adherence to all compliance timelines.

H. Internal Controls & Process Improvement

• Establish robust internal control systems for finance, stores, and production accounting.
• Conduct surprise audits of inventory, cash, and production processes.
• Implement digital and automated solutions to reduce manual errors.
• Regularly review and improve accounting SOPs for efficiency and compliance.

I. Team Leadership

• Lead and mentor the factory accounts team to ensure high performance.
• Build collaboration between accounts, production, procurement, and stores teams.
• Organize periodic training on finance processes, compliance, and ERP systems.

3. Key Deliverables:

• Timely book closure

  with accurate MIS reporting.

• Zero-delay statutory compliance

  for GST, TDS, imports, and factory laws.

• Accurate total production costing

  to support pricing decisions.

• Efficient bank and cash management

  with proper controls.

• Fixed asset tracking and optimization

  with no discrepancies.

• Cost-saving initiatives

  leading to continuous improvement.

Preferred candidate profile

• Education:

• Chartered Accountant (CA) preferred
• Cost & Management Accountant (CMA) or MBA (Finance) acceptable alternative

• Experience:

• 1015 years in factory/manufacturing accounting
• Strong exposure to costing, imports, and fixed asset management
• Experience in ERP systems like SAP, Oracle, or Tally

Skills Required:

• Strong knowledge of

  cost accounting and production finance

• Expertise in

  GST, TDS, and import compliance

• Proficiency in

  banking and treasury operations

• Advanced MS Excel and ERP skills
• Leadership and team development capabilities
• Analytical mindset for process improvement and cost control

Behavioral Competencies:

• High integrity and ethical conduct
• Attention to detail with accuracy in reporting
• Problem-solving and decision-making under pressure
• Strategic thinking with operational involvement
• Collaboration and cross-functional coordination